October 15, 2010

Bank Nifty analysis

  • Bank nifty is showing a dark cloud cover candlestick pattern. Closing near day low would have given the perfect pattern. Any way it has closed below the 50% mark of the previous candle.
  • But any meaningful correction is possible only if price breaks the trend line shown in the second chart.
  • Nifty 5 minutes chart range breakdown: CLICK HERE

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